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Altera’s Target, Estimates Boosted at Citigroup (ALTR)

Semiconductor maker Altera Corporation ( ALTR ) on Tuesday saw its price target and earnings estimates raised on Tuesday by analysts at Citigroup.

The firm said it boosted its estimates for ALTR through 2011, citing the company's recently-raised guidance during its mid-quarter update. Citigroup kept its "Buy" rating unchanged and introduced a new $43 price target.

That new target implies a 21% upside to the stock's Monday closing price of $35.47.

Altera shares fell 67 cents, or -1.9%, in premarket trading Tuesday.

The Bottom Line

Shares of Altera Corp ( ALTR ) have a .68% dividend yield, based on last night's closing stock price of $35.47. The stock has technical support in the $30-$32 price area. If the shares can firm up, we see overhead resistance around the $40 price level.

Altera Corporation ( ALTR ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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